The need to switch to green, renewable energy is becoming more urgent due to the conflict in Ukraine, the severe heating deficit, and the high cost of electricity as winter grips Europe (RE). According to a recent International Energy Agency (IEA) assessment, the amount of renewable energy capacity added globally over the course of the last 20 years will be equaled within the next five years.
However, India has made slow progress. By 2030, the Modi administration had targeted 500 GW of renewable energy. About 120 GW of "green" energy is being produced by us, or 29% of the total installed power capacity. The IEA notes that we are far short of our goal; by 2030, India is only expected to add 145 GW or around 29 GW in annual installations. The performance on-site is significantly lower; just 13–15 GW are entering the grid on an annual basis. According to the IEA, the slowdown in auction awards for solar, wind, and hydropower is the cause of the slow development of REpower.
India Falling Back In Its Green Energy Plan
The state electricity distribution firms are unable to sign power purchase agreements (PPAs) with the green generation businesses because of their precarious financial position, which is one of the major roadblocks. The expansion of renewable energy has been sluggish without a strong offtake.
The traditional energy sources of India, such as coal and oil, produce around 71% of the country's electricity. The majority, or about 55%, comes from coal, with the remainder coming from crude oil and gas. The economics of this dependence has gotten worse as a result of the conflict in Ukraine and the energy crisis. 85% of India's crude oil is imported, and this percentage is not likely to change soon. On the other hand, coal mines that were going to be closed or put on hold have now been made accessible.
Last month, Nirmala Sitharaman, the minister of finance for the Union, agreed that there will likely be a rise in the use of coal. In the previous fiscal year, Coal India purchased eight million tonnes of coal to make up for the shortage. All of this is not promising. A "dirty" fuel like coal contributes to greenhouse emissions and global warming. The conflict in Ukraine is not going away quickly. To hasten the transition to renewable energy, these variables necessitate a new energy "battle plan."
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
